Sector Update: Telecom; Rogers Communications Posts Weaker-than-Expected Q4

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The S&P/TSX Telecom Services Index was down 1.2% in the afternoon session, posting the biggest loss among major sectors. Telecom stocks were mixed.

BCE Inc. (BCE.TO): +0.2%

Bell Aliant (BA.TO): -1.2%

Rogers Communications (RCI-B.TO): -5.3%

Quebecor, Inc. (QBR-B.TO): -0.2%

In company news, Rogers Communications Inc. says Q4 2013 adjusted diluted EPS was C$0.69, down 20% from last year's C$0.86, trailing Capital IQ consensus by C$0.04. Revenue decreased 1% from last year to C$3.2 billion, missing the C$3.3 billion analyst estimate.

For 2014, the company sees adjusted operating profit in the range of C$5 billion to C$5.15 billion.

Also, the board of directors approved an increase of 5% in the annualized dividend rate from $1.74 to $1.83 per share, effective immediately, to be paid in quarterly amounts of $0.4575 per share. Rogers also authorized the repurchase of up to $500 million of stock.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities


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